HTG Molecular Diagnostics (NASDAQ:HTGM) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Wednesday.
A number of other equities analysts have also recently weighed in on HTGM. Zacks Investment Research cut HTG Molecular Diagnostics from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. HC Wainwright set a $7.00 price target on HTG Molecular Diagnostics and gave the stock a “buy” rating in a report on Friday, June 8th. Finally, Canaccord Genuity upped their price target on HTG Molecular Diagnostics from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, March 23rd.
Shares of NASDAQ:HTGM traded down $0.22 during trading on Wednesday, reaching $3.16. 622,500 shares of the stock were exchanged, compared to its average volume of 1,357,823. The stock has a market capitalization of $93.06 million, a P/E ratio of -1.77 and a beta of 1.58. HTG Molecular Diagnostics has a 12-month low of $1.59 and a 12-month high of $5.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 9.59 and a current ratio of 9.80.
HTG Molecular Diagnostics (NASDAQ:HTGM) last released its quarterly earnings results on Thursday, May 10th. The medical research company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.04. The firm had revenue of $4.16 million during the quarter, compared to analysts’ expectations of $5.24 million. HTG Molecular Diagnostics had a negative return on equity of 338.96% and a negative net margin of 105.56%. analysts predict that HTG Molecular Diagnostics will post -0.66 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HTGM. EAM Global Investors LLC acquired a new position in shares of HTG Molecular Diagnostics in the 1st quarter valued at approximately $684,000. Stifel Financial Corp acquired a new position in shares of HTG Molecular Diagnostics in the 1st quarter valued at approximately $343,000. New York State Common Retirement Fund acquired a new position in shares of HTG Molecular Diagnostics in the 1st quarter valued at approximately $170,000. Finally, Northern Trust Corp acquired a new position in shares of HTG Molecular Diagnostics in the 1st quarter valued at approximately $189,000. Hedge funds and other institutional investors own 39.41% of the company’s stock.
About HTG Molecular Diagnostics
HTG Molecular Diagnostics, Inc develops and markets products and services based on proprietary technology that facilitates the routine use of targeted molecular profiling. The company's products, HTG Edge and HTG EdgeSeq platforms include instrumentation (or platforms), consumables comprising assay kits, and software analytics that automate sample processing and profiles various molecular targets from samples a fraction of the size required by prevailing technologies.
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